We still are recovering from the real estate bubble burst of 2008/09. The bubble created all kinds of new issues that many new home buyers (and refinanciers) have to face.
1)First, discuss whether you think an attorney should be required for a real estate transaction. Some states require one, others allow paralegals to provide quasi-legal advice. What do you think is the right answer? Explain and cite sources with Bluebook (Chicago) Style to defend your answer.
2)Second, define the following terms or concepts and explain their significance (using proper citations) in documenting the purchase and sale of real property:
a) notice and race-notice jurisdictions
b) a bone-fide purchaser
c) the several types of deeds
d) a contract
e) the statute of frauds
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